Sturgis advertiser. (Sturgis, Dakota [S.D.]) 1887-1???, 1887-12-14
INCOME AND EXPENDITURES.
Repor. d the seere.ay q the Treasury

Report Of the Secretary Of the Treasury.
WASHINGTON, Dec. r. The secretary Of the
treasury, III his annual report, submitted to
congress today, says: The total ordinary
receipts Of the government during the year
ending June 50, 1857, were ssh. 403, 900,
and the total ordinary expenditures were
s3l5, sS5, 900 leaving surplus Of s55, 500 900,
which, with the amount drawn from the cash
balance in the treasury. makes the total sur
plas $50, G24, 900, which was offered to the re-
demption Of bonds. For the present year the
revenues are 60 mated ct 1888 00o, 600, and
the expenditures At ss16,sls,o00, leaving
an estimated surplus Of coo. 1sS, 900 June ~,
1858.
The secretary then gives the following wsys
In which the receipts and expenditures Of the
government may De about equal:
1. The purchase Of the interest bearing debt
Of the government.
Q. Large expenditures BY the government
for other purposes than the purchase Of bonds,
so that they shall each year quail the taxation
Of that year.
8. A reduction of revenue from taxation to
the amount equally n q Tired to meet the nee
essarY expenses.
ALI these expedlents have In common the
one merit Of preventing the arrangement Of
business which must follow the boarding or
locking up in the treasury Of the circulating
medium Of the people. The secretary goes ON
to say that q reduction Of revenue from taxa
tion 10 the only at remedy for the evils which
threaten the country.
This may be accomplished in various ways.
One ir, to reduce or abolish internal reve-.
nue. taxation. In favor Of this is TIE fact thst
n small part Of the southern states the In
ternal tax ON liquors and tobacco 10 thought
to be oppressive and odious to the people Of
those regions, and the further fact tina. by Its
reduction the expenses Of its collection might
be somewhat reduced.
As 10 the expense Of collecting the reve-
nue., guggest that tae amalgamation Of the
customs and internal revenue systems is
entirely feasible, and thereby large number
of Offices might be abolished. earnestly
commend this suggestion to the careful con-
sideration of congress.
To do away with the whole revenue from
internal taxes at present would so diminish
the revenue that it would be necessary to lay
duties ON rticles Of importation now free.
The revenue from customs taxation, the SEC
rotary thinks, 10 the place where the reduc-
ton should be made, and While reducing 1t
advantage should be taken Of the opportunity
to reform the abuses and insq a,iries OF the
tariff.
OF the surplus, the secretary said, ont
use which could be made Of the moneys Isl
diminish tax .tion to such An extern
that the annual revenues will be
less for some years to come than the appro
priations. Thus the accumulated surLlus
would be used for ordinary expenses, an ! the
people would gain the greatest possible good
from 1t.
The report shows that the circulation of
standard silver dollars has increased s10, 1885,
coo during the past pear. The cecretary says,
in regard to this, that the law should be so
amen d. as to autho' ice the secretary OF the
treasury to issue certificates against coinaae
to the value OF the bullion bought, and coin
only euch number Of dollars ~ he might
deem expedient hereafter. There should al
ways be in the treasury enough silver, besides
that sold against outstanding certificates, to
enable the government to at once supply any
demand for 1t on the part Of the people.
The balance of the report is taken up with
rep rts of the customs, revenue, marine, emil
grafton and coast surveys.